advice on my duplex, keep it to rent, or sell using 1031 exchange
Soon I will have listed my duplex for sale in Boston Mass. House is valued at $650K and when all is said and done will walk away with $600K in cash after closing. I want to buy another multi-family closer to where I live (25 miles north of Boston) and use the 1031 exchange to avoid the capital gains tax. Q1. I have located at duplex for sale I want to buy for $400K, and wonder if I should look for another smaller condo and spend the entire $600K ...OR....in order to keep some spending cash, should I just pay the capital gains tax on the $200K. thanks, Jeanne